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    Hot100Business Best Practice #29. The owners have at least $3 million in their retirement fund, within 10 years. Most everyone laughs when they see this best practice, yet it is often one of the real keys to building a successful AND sustainable business. Putting this as a critical goal for your business, changes WHAT you do and WHEN you do it. It makes everything more urgent and more important to get results NOW, not just stay busy and hope it all works out in the future. This is one of the keys to achieving our goals 10 to 20 years faster. In addition to growing the business 5X-ASAP another great strategy is to use the “$3 Million More” process to build a $3 million protected and guaranteed asset in about 10 years. This unique strategy was developed by Shawn Kieley, of Perfect Financial, and uses a novel cash flow system, to grow some portion of our business or family cash flow BEFORE we spend it. This is unlike most investments, where we have to put in money that is left over, and then park it for a long time. As an example, if our business or personal cash flow is $25,000 or more a month, then that’s enough to grow our Perfect Financial assets to $3,000,000 and more, in just 10 years. It can also work with family cash flow, but the results vary depending on our budget. It can work with incomes as low as $5,000 a month but more really is better. Lastly, too many entrepreneurs neglect the simple fact that no one is going to help us retire. We are ultimately responsible for every last dime we need to live. The older we are the less time we have to accumulate this amount of liquid assets. Counting on the sale of the business to fund retirement, we must ensure that the business is worth enough, that it doesn’t decline in value and that there is a market for it when we want or need to sell it. If we don’t have this amount reserved for retirement, then we have all the more reason to earn another million dollars as soon as possible! From the 2016 Hot100Business Edition of "Best Practices of High Performance Entrepreneurs"

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    http://www.examiner.com/article/clinton-s-hypocrisy-erupts-with-doubletalk-about-guns-orlando

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    Here's an idea to stop the patent trolls. [bpfb_link url='http://www.markdwalters.com/blog/contracting-to-block-the-patent-trolls' title='Mark D. Walters | Blog - Mark D. Walters' image='http://www.markdwalters.com/uploads/8/8/8/7/8887843/9690226_orig.jpg']Listening to  Phil McKinney's  fantastic Killer Innovation podcast a while back, i picked up a great idea on how to use contracts to block patent trolls.    Patent trolls add no value and offer...[/bpfb_link]

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